Later On

A blog written for those whose interests more or less match mine.

Looting the U.S., the Next Step: Trump advisers call for privatizing some public assets to build new infrastructure

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This is going in a very bad and very dark direction, like some dystopian science-fiction novel. Michael Laris reports in the Washington Post:

The Trump administration, determined to overhaul and modernize the nation’s infrastructure, is drafting plans to privatize some public assets such as airports, bridges, highway rest stops and other facilities, according to top officials and advisers. [Will the properties that are sold have to carry the Trump brand? Trump probably cannot buy the properties himself, so presumably he can sell them to friends. Obviously, the public facilities will become profit centers and the public will pay more, one way or another, to keep the profits growing. – LG]

In his proposed budget released Tuesday, President Trump called for spending $200 billion over 10 years to “incentivize” private, state and local spending on infrastructure.

Trump advisers said that to entice state and local governments to sell some of their assets, the administration is considering paying them a bonus. The proceeds of the sales would then go to other infrastructure projects. Australia has pursued a similar policy, which it calls “asset recycling,” prompting the 99-year lease of a state-owned electrical grid to pay for improvements to the Sydney Metro, among other projects.

In the United States, Chicago Mayor Rahm Emanuel (D) explored privatizing Midway International Airport several years ago but dropped the idea in 2013, after a key bidder backed away. Transportation Secretary Elaine Chao says such projects should be encouraged. . .

Continue reading.

Written by LeisureGuy

23 May 2017 at 9:11 pm

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